Re: FOMC - "this time it's different"

[GREHERT@xxxxxxx]

In a message dated 10/15/1999 1:34:14 PM Eastern Daylight Time, 
jmackro@xxxxxxxxxxxx writes:

<< I'm not saying that a crash can't happen, nor that the public
won't bail out of their individual investments if the market isn't
going up every day.  Such a scenario would be murder on the
E*Trades and Olde's of the world.  But I question whether  the percent of 
stocks held in this manner really represents  that high a proportion of the 
total shares outstanding. >>>

Here the concept of "marginal" shares comes to mind.  Can't a small 
percentage invoke a disproportionatetely large effect under the circumstances 
of complacency, inaction and stable volume.  Comments anyone?

Best wishes,

Jerry Rehert